[Finance] The cryptocurrency (Bitcoin etc) thread

[beorhthelm]

amid news of US elections, something overlooked by many is the effect on crypto. market has already signalled predicated approval, the real change though is when US reigns in SEC or deregulates the security classification, real revenue can be extracted and many tokens will soar. eye on Uniswap and Aave as leading.

 

[Tom Hark Preston Park]

amid news of US elections, something overlooked by many is the effect on crypto. market has already signalled predicated approval, the real change though is when US reigns in SEC or deregulates the security classification, real revenue can be extracted and many tokens will soar. eye on Uniswap and Aave as leading.

Seeing as how Trump has already been heavily involved in grifting his own crypto crap, it's hardly surprising line go up on news of him winning the election

 

[RandyWanger]

Gary getting his P45 is good news for the whole of crypto

 

[Berty23]

Crypto holdings have gone up about 30% in a week since the election. Taken money out of mine to cover the kids’ Xmas presents. The one good thing that has resulted from Donald.

In just 24 hours Bitcoin gone from about 80k to about 90k.

I don’t have much of it but it is useful increase.

 

[RandyWanger]

I am enjoying this bull run and he's not even taken office yet. I seem to be doubling my salary each day at the moment which is nice but I am holding my nerve, I sold way too early in the past and although at the time it made a difference to my life, if I had HODL until now I'd be retired on a beach.

 

[DJ NOBO]

Three years on from being £8k down, I broke even yesterday. Knocking off the final £250 thanks to Trump!

 

[RandyWanger]

Is anyone bullish on ICP?

Brave new city: Bahrain's blockchain-powered metropolis

Inside Bahrain’s bold leap to build the world’s first blockchain-powered metropolis, fusing technology with a bold vision for the future.

wired.me

It sounds like an Orwellian nightmare, but one I'm profiting from.

 

[Tom Hark Preston Park]

Grifter-in-chief Trump will wave this unregulated worthless shit into the mainstream. Institutional funds will be under immense pressure to get on board. Pathetic synthetic financial products that none of these financial whizzkids/dickheads will even pretend to understand are sure to follow. Next 2008-equivalent crash right there in the making

 

[Bold Seagull]

Grifter-in-chief Trump will wave this unregulated worthless shit into the mainstream. Institutional funds will be under immense pressure to get on board. Pathetic synthetic financial products that none of these financial whizzkids/dickheads will even pretend to understand are sure to follow. Next 2008-equivalent crash right there in the making

Isn't the dotcom bubble a more appropriate analogy? The 2008 financial crash was essentially a failure of risk analysis and layering of that risk. The dotcom was value created by hype for things that inherently had no value, just hype. Or do you just mean the equivalent in scale of crash?

 

[beorhthelm]

Grifter-in-chief Trump will wave this unregulated worthless shit into the mainstream. Institutional funds will be under immense pressure to get on board. Pathetic synthetic financial products that none of these financial whizzkids/dickheads will even pretend to understand are sure to follow. Next 2008-equivalent crash right there in the making

it's already primed for mainstream, Trump is on the coattails. irony is many people involved do understand the finance far more than the tech, a lot of which is vapourware.

next market crash will be triggered by the collapse of the AI bubble.

 

[Tom Hark Preston Park]

Isn't the dotcom bubble a more appropriate analogy? The 2008 financial crash was essentially a failure of risk analysis and layering of that risk. The dotcom was value created by hype for things that inherently had no value, just hype. Or do you just mean the equivalent in scale of crash?

Institutionalised adoption of worthless cryptocurrency shit is essentially an exact replica of 2008

 

[beorhthelm]

Isn't the dotcom bubble a more appropriate analogy? The 2008 financial crash was essentially a failure of risk analysis and layering of that risk. The dotcom was value created by hype for things that inherently had no value, just hype. Or do you just mean the equivalent in scale of crash?

yes, the 2008 crash was caused by leveraged debt, and banks not knowing who had what debt so stopped lending. crypto does actually solve that, by giving an immutable, public ledger of ownership, though not being used in such a manner yet. if a bank invests $1bn into GOAT this week, when it goes to 0 thats their maxmium loss. in 2008 they'd probably owe several times that. it's a much more traditional hype bubble like dotcom.

 

[pb21]

Institutionalised adoption of worthless cryptocurrency shit is essentially an exact replica of 2008

Not purchasing any BTC for cold wallet storage or MSTR stock for you pension portfolio then?

 

[Tom Hark Preston Park]

Not purchasing any BTC for cold wallet storage or MSTR stock for you pension portfolio then?

Nah, will stick with something with some underlying value cheers

 

[Tom Hark Preston Park]

yes, the 2008 crash was caused by leveraged debt, and banks not knowing who had what debt so stopped lending. crypto does actually solve that, by giving an immutable, public ledger of ownership, though not being used in such a manner yet. if a bank invests $1bn into GOAT this week, when it goes to 0 thats their maxmium loss. in 2008 they'd probably owe several times that. it's a much more traditional hype bubble like dotcom.

Nothing to do with the synthetic over-leveraged products that none of these alleged supersmart twats could even begin to explain then?

 

[Professor Plum]

XRP seems to have increased by over 100% in the past week or two. I bought £1000 a couple of months ago when I saw it mentioned on here. Sitting on a small potential profit of about £1200 but I’m going to just let it ride and see what happens. If it drops again, as likely, I’m not too bothered. But I'd kick myself if it became another Bitcoin. I remember reading about Bitcoin when it was 27p and wondered about having a punt. What’s it now? £70,000?

 

[RandyWanger]

XRP seems to have increased by over 100% in the past week or two. I bought £1000 a couple of months ago when I saw it mentioned on here. Sitting on a small potential profit of about £1200 but I’m going to just let it ride and see what happens. If it drops again, as likely, I’m not too bothered. But I’ll kick myself if it becomes another Bitcoin. I remember reading about Bitcoin when it was 27p and wondered about having a punt. What’s it now? £70,000?

My XRP is performing well too, one of the better assets I hold. 74% up.
Price predictions are all over the place but a good technical analisist I speak with has it around $19 by the end of 2025 which would be nice.
HBAR for me has done better. 136% up on that. I got in under 0.04 and even at 0.09 now it still seems cheap considering the use cases for it and their satelite tracking system being launched in Jan.
Your BTC comment is what I said to the wife, both XRP and HBAR have a use and are more than a p2p payment system or storer of wealth, their market cap could be huge.

 

[borat]

My XRP is performing well too, one of the better assets I hold. 74% up.
Price predictions are all over the place but a good technical analisist I speak with has it around $19 by the end of 2025 which would be nice.
HBAR for me has done better. 136% up on that. I got in under 0.04 and even at 0.09 now it still seems cheap considering the use cases for it and their satelite tracking system being launched in Jan.
Your BTC comment is what I said to the wife, both XRP and HBAR have a use and are more than a p2p payment system or storer of wealth, their market cap could be huge.

Who is this ''analyst''. Rough figures - £19 dollar XRP would mean a market cap for XRP of over a Trillion by end of 2025. If the whole Crypto market cap goes to $10 trillion by the end of the year XRP would need to be 10% of the whole crypto market (its currently 2%)

 

[Marshy]

over 150% up on my xrp... and its got loads to go up yet

 

[Tom Hark Preston Park]

Who is this ''analyst''. Rough figures - £19 dollar XRP would mean a market cap for XRP of over a Trillion by end of 2025. If the whole Crypto market cap goes to $10 trillion by the end of the year XRP would need to be 10% of the whole crypto market (its currently 2%)

This whole thing is a complete nonsense. Number go up purely due to cryptobros irrational exuberance triggered by Trump winning the US election. The fundamentals haven't changed: there are none